Comparethemarket.com owner pushes stock market float back to end of 2017 January 19, 2017 The owner of price comparison website Comparethemarket.com has pushed back its plans for a £2bn stock market float, City A.M. has learned. BGL Group appointed JP Morgan and Morgan Stanley to advise on its initial public offering (IPO) last summer, and was expected to list early this year. Read more: London set for biggest IPO in [...]
Spend $9 billion. Employ 40,000 technologists. What do you get? December 8, 2016 Spend $9 billion. Employ 40,000 technologists. Then add one company with one giant vision. Behold JP Morgan Chase, a global tech operations phenomenon. Glasgow is one of its 13 hubs located throughout the world. Watch this short video on why the city was 'stringently selected' from 30 European rival locations. You'll be amazed at what goes on behind closed doors here…
The UK sharing economy’s set to grow by billions this year despite scrutiny February 9, 2017 The popularity of on-demand services such as Uber, Deliveroo and Airbnb is set to boom, with the value of the UK's sharing economy predicted to grow my more than 60 per cent this year. Despite scrutiny from government, the desire for services at the tap of a smartphone app will continue according to the research from PwC, which has also [...]
Mullets, knee socks and sheer determination: JP Morgan unearths archival pictures from the firm’s first Square Mile fun run in 1986 April 12, 2016 Fashion really has come a long way since the 80s. Activewear may be one of the trends that the City's financiers are following, but that wasn't always the case. With JP Morgan's Corporate challenge celebrating its 30th birthday this year, folks at the firm unearthed a photo album and sent us retro pictures of one of the [...]
PwC US chairman reassures staff over Trump travel ban January 31, 2017 The US chairman and senior partner of professional services giant PwC has become one of the latest business names to reassure staff over Donald Trump's travel ban over seven Muslim majority countries. In a message posted on Facebook, Tim Ryan wrote: I want to thank all those who have reached out to me in the [...]
UBS chair Axel Weber: We’re eyeing the exit ahead of Brexit because we need a new EU base once the UK leaves March 15, 2017 The chairman of UBS hinted today the Swiss bank may not wait until the end of Brexit negotiations to move jobs out of London. Back in January, Axel Weber said about 1,000 of the bank's jobs in London were directly linked to passporting, the complex set of rights which UK financial firms currently use to do business [...]
Hedge funds bank on Sky takeover bid success February 12, 2017 Two US hedge funds have banked on the Murdoch family succeeding in taking over the UK-based communications giant, Sky plc. According to reports in the Sunday Telegraph, the two funds, HBK and Pentwater, each disclosed they have amassed positions worth £310m and £300m respectively. In December last year, 21st Century Fox announced that it would be [...]
Deutsche Bank’s head of financial crime quits after just six months in role January 4, 2017 Deutsche Bank's man in charge of fighting financial crime is leaving his role after just six months. Peter Hazlewood, a veteran of HSBC, JP Morgan and Standard Chartered, was appointed global head of anti-financial crime and group money-laundering reporting officer at the German banking giant last July. He was based in Frankfurt and reported to Sylvie Matherat, the [...]
Guy Hands plotting £1.3bn sale of Italian solar power firm March 5, 2017 Terra Firma boss Guy Hands is plotting a £1.3bn sale of Italian solar power giant RTR. Hands is in talks with banks to explore a sale of the Rome-based renewable energy company, the Sunday Times reported. RTR, which was snapped up by Terra Firma in 2011, produces energy for 160,000 families every year through its sites in [...]
US sues Barclays bank and two former executives for mortgage securities fraud December 23, 2016 The US department of justice has sued Barclays and two former executives on civil charges of fraud relating to the sale of mortgage-backed securities during the run-up to the 2008-9 financial crisis. Several major US banks, including JP Morgan Chase and Bank of America have already paid millions of dollars to settle similar claims. Deutsche Bank [...]